he would repeal the alternative minimum tax and the estate tax. the snon-partisan tax said it would cost $4.8 trillion over ten years. romney said his plan would be paid for. to pay for the cuts, he would have to close loopholes in the tax codes and get red of deductions and credits. he hasn't said which he'd get rid of, saying he would work with congress. president obama said his plan would cut the deficit by $4 trillion. >> we all know we have to do more. so, i put forward a specific $4 trillion deficit reduction plan. it's on a website. you can look at all the numbers, what cuts we make and what revenue we raise. >> that comes from the budget and policy priorities. the president is counting money saved by letting the bush tax cuts expire for people making more than $250,000 a year. he's counting $1 trillion in savings but cutting down the wars in iraq and afghanistan. the committee for responsible budget called that a gimmick. they were deficit financed in the first place. the president is counting on savings from last year when the white house